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   Non-TechThe Brazil Board

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To: Glenn Petersen who wrote (2090)10/2/2020 6:51:34 AM
From: elmatador
   of 2220
Brazil runs record trade surplus

Imports slowed down faster than exports in September in Brazil, yielding a record-high trade surplus. Exports exceeded imports by USD 6.164 billion, the strongest result for the month since record-keeping began in 1989.

Year-to-date through September saw a USD 42.445 billion trade surplus, the second highest number for the period. The highest surplus ever through September was seen in 2017, at USD 53.258 billion. Exports through September came out to USD 156.780 billion, down 7% year-over-year in daily average numbers. Imports amounted to USD 114.336 billion, down 14%.

The primary driver of the September surplus was weaker imports by the process and extraction industries. On the export side, process industry sales also went down. On the other hand, extraction industry and agriculture sales picked up.

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To: Glenn Petersen who wrote (2090)10/2/2020 6:52:48 AM
From: elmatador
   of 2220
Brazil manufacturing PMI hits record high 64.9 in September -IHS Markit Manufacturing expanded at a record pace in Sept

Brazilian manufacturing expanded at a record pace in September, a survey of purchasing managers' activity showed on Thursday, extending a recovery from the worst of the COVID-19 crisis as employment growth hit a decade high and export orders rose for the first time in a year.

IHS Markit's headline Brazil manufacturing purchasing managers index (PMI) rose to 64.9 in September from 64.7 in August, the highest level since the index was first compiled in February 2006.

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To: Glenn Petersen who wrote (2090)10/4/2020 5:02:49 AM
From: elmatador
   of 2220
Battery Metals
Australia's Jervois Mining to buy Brazilian cobalt, nickel refineryThe battery metals focused miner will buy the Sao Miguel Paulista refinery in Sao Paulo from Companhia Brasileira de Aluminio for 125 million reais ($22.1 million), it said in a statement.


The Brazilian refinery had a production capacity of 25,000 metric tonnes per annum (mtpa) of nickel and 2,000 mtpa of cobalt before it was placed on care and maintenance in 2016.

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From: elmatador10/4/2020 5:04:47 AM
   of 2220
Latin America Mining: Some Trends
Mayer Brown

USA September 29 2020
Since the time of the Incas and related civilizations, Latin America has seen significant activity in the mining sector. Indeed, the bountiful natural resources of the continent were one of the principal causes of colonial expansion by Spain, Portugal and others. Over the centuries, the industry has continued to develop.

Overview of Industry

Statistics published by World Mining Data 2019 indicate that 6.6% of total global mining production in that year originated from Latin America (compared with, for example, 5.6% from Africa; although, placing that in context, 57.9% of global production originated from Asia). The trend in Latin America, though, is for increased production. During the period 2000 2017, production increased by 24.3%. Of course, production has been slowed by the COVID-19 pandemic, but while the virus has been particularly impactful in Latin America, there is no reason to believe that the longterm trend will not continue.

The contribution of revenue sourced from commodities exploitation to the economies of many countries in Latin America is significant. For example, based on the most recently available statistics, total annual commodity production in Brazil generated in excess of $95 billion. The equivalent number for Mexico is in the region of $65 billion. However, the numbers for both countries include a significant amount of oil and gas-mining exports from Brazil in 2019 were in the region of $32.5 billion; the percentage contribution in Mexico is significantly lower. Contrast that with Chile where the number was in the region of $41 billion--with a very high concentration of $34 billion coming from non-ferrous metals. Other countries, such as Ecuador and Peru, are highly reliant on the mining industry for its contribution to overall GDP.

Available Minerals

While most countries in the region have some mineral resources, Chile, Peru, Brazil and Mexico account for 85% of mineral and metal exports overall. Probably the most widely exploited metals in Latin America are copper, iron ore, gold and silver. Copper is particularly important with Chile being responsible for around 25% of global production. At that level, Chile is the world's leading exporter of copper with Peru being positioned immediately behind. Brazil is the third-largest global producer of iron ore, and Mexico is the largest producer of silver (although Peru has larger reserves). The continent was responsible for more than half of the global production of silver in 2018. In several minerals, therefore, Latin America is the dominant producer.

Investment Environment

Mining companies have multiple options when it comes to investing in new mining projects. The long-term nature of the development of any project make stability and confidence in local mining policy and the legislative/regulatory environment an important consideration in any new investment decision. The Canada-based Fraser Institute produces an annual survey which analyzes the views of senior mining executives on these issues in the principal mining jurisdictions. The survey produces an Investment Attractiveness Index which takes into account both mineral and policy perception. The most recent survey (in 2019) suggested that, in making investment decisions, 40% of the overall decision process was devoted to these policy considerations. The survey covers 76 jurisdictions--including all of the major Latin American countries--and is based on the answers to questions such as the certainty of regulation, efficiency of the legal system, taxation regime, political stability, availability of skills, etc. There was no Latin American jurisdiction in the top 10 countries named in the overall index. Chile came highest, at 17th in the table, followed by Peru in 24th. The remainder of the countries were by and large in the bottom half of the index, but, with the exception of a couple of provinces in Argentina (where there is wide variation by province), Venezuela and some Central American countries, there was little representation in the bottom quartile. It is fair to say that in virtually every policy category, Chile led the Latin American contingent. What is clear, though, is that Latin America lags behind Europe, Australia, certain provinces of Canada and several US states in terms of overall policy attraction.

Battery Metals

The race to secure supplies of battery metals has received much attention recently--particularly as the supply chain for several of the metals is so concentrated in particular countries (frequently China, which raises geo-political concerns). The availability of these so-called strategic metals has led to both the Trump administration and the European Union announcing several initiatives to secure the supply of those minerals which will be essential for the development of both electric vehicles and emerging battery technology. The key commodities for battery technology are lithium, cobalt, manganese and graphite. Lithium is found in both hard rock and brine format, with the latter being generally considered easier to exploit. Latin America is particularly rich in lithium brines, with Chile and Argentina host to 30.3% and 11.5%, respectively, of global resource estimates. There are very few current battery technologies which contemplate production without lithium. The UN Economic Commission for Latin America and the Caribbean has estimated that the region as a whole holds 61% of global lithium reserves, clearly a strategic position.

Socioeconomic Issues

According to the UN Economic Commission, Latin America is the region with the most mining-related socioeconomic conflicts worldwide. There are several reasons for this. Given the arid nature of large parts of the areas where mining activity occurs, conflict with local communities over access to water resources is common. The nomadic nature of many remote communities and uncertainties over land entitlement, land access and surface rights also create constant issues for mining companies. For example, the local population in Arequipa, an agricultural area of Peru, have challenged the development of the Tia Maria project for many years. Seven people have lost their lives in pursuing that challenge.

A recent related issue has been the loss of life and the impact on local economic activity arising out of the failure of tailings dams. While mining is at times both a dangerous and environmentally contentious activity, the Latin America region seems to have had more than its fair share of disastrous events in recent times. Two relatively recent tailings dam collapses in Brazil--the Mariana dam in 2015 and the Brumadinho dam in 2019--have attracted possibly the most attention given the significant loss of lives (19 and 270, respectively). The impact of increased mining activity in the Amazon rain forest is also attracting much attention. Many of these issues are viewed through the prism of perceived lax controls and ineffective government regulation.

Concluding Thoughts

First and foremost, Latin America hosts significant quantities of minerals and related resources. As such, and notwithstanding perceived regulatory, political and environmental issues, the continent is always going to remain under active consideration for investment by those active in the international resources sector.

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From: elmatador10/5/2020 4:04:56 AM
   of 2220
Brazilian miner Vale SA is in talks with Tesla and others in the electric vehicle (EV) supply chain about securing nickel from its Canadian operations, the head of the miner’s base metals unit said on Friday.

Miner Vale in talks with Tesla, EV sector for Canada nickel: executive
By Jeff Lewis

(This October 2 story officially corrects to remove reference to base metals in 10th para to clarify $2 bln investment is across whole company)

TORONTO (Reuters) - Brazilian miner Vale SA is in talks with Tesla and others in the electric vehicle (EV) supply chain about securing nickel from its Canadian operations, the head of the miner’s base metals unit said on Friday.

Tesla did not immediately respond to a request for comment.

Tesla CEO Elon Musk in July urged miners to produce more nickel, a key ingredient in the batteries that power the company’s electric cars. Musk offered a “giant contract” if supplies could be produced in an environmentally sensitive way.

While EVs are expected to help reduce global carbon emission, environmentalists are concerned that production of EV parts and increased mining may damage the environment.

Analysts have also warned of a supply deficit for nickel, which makes batteries energy dense so cars can run further on a single charge.

Tesla and other automakers need to ensure there is sufficient nickel available to produce the number of batteries required for EVs over the next five to eight years, Mark Travers, Vale’s executive director of base metals, told Reuters.

“So that is the nature of the discussions I’m sure that is occurring across the industry right now and, without specifically commenting on Tesla, those are the conversations we are having right now,” he said.

Asked whether Vale and Tesla have held discussions, Travers said: “Yes, absolutely.”

Vale, whose Canadian operations span three provinces, is in the midst of expanding its Voisey’s Bay site to an underground operation that will produce about 40,000 tonnes of nickel-in-concentrate per year.

The miner has dedicated about $2 billion to low-carbon projects, including electrification of underground vehicles, fuel switching and heat recovery, Travers said.

In Canada it is also studying potential to store carbon in tailings at its operations in Thompson, Manitoba, he said.

Such considerations are “a key focal point” in discussions with automakers and other EV participants, he said.

“The discussions around environmentally friendly nickel are front and center,” he said.

Reporting by Jeff Lewis; editing by Grant McCool

Our Standards: The Thomson Reuters Trust Principles.

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To: Glenn Petersen who wrote (2090)10/6/2020 8:15:14 AM
From: elmatador
   of 2220
The backing from the $60 billion US International Development Finance Corporation (DFC) will help TechMet develop a nickel and cobalt mine in Brazil. Both metals are key in the production of the batteries that power electric cars and cell phones.US grabs stake in battery metals miner to fight Chinese control

US grabs stake in battery metals miner to fight Chinese control

Brazilian Nickel is a nickel/cobalt project in Brazil, applying breakthrough heap-leach technology to treat laterite ores and produce nickel and cobalt products perfectly suited for the battery market

US grabs stake in battery metals miner to fight Chinese control
Cecilia Jamasmie | October 5, 2020 | 3:49 am Battery Metals China Latin America USA Cobalt Lithium Nickel

TechMet is funding the first commercial phase of a nickel-cobalt project in Brazil. (Image courtesy of Brazilian Nickel.)
The US government is taking a $25 million equity stake in Dublin-based battery metals miner TechMet, as part of a push by President Donald Trump to reduce the country’s reliance on supply chains dominated by China.

The backing from the $60 billion US International Development Finance Corporation (DFC) will help TechMet develop a nickel and cobalt mine in Brazil. Both metals are key in the production of the batteries that power electric cars and cell phones.


TechMet’s Brazilian Nickel project, in the north-eastern state of Piauí, is estimated to hold as much as 72 million tonnes of nickel and cobalt.

“Investments in critical materials for advanced technology support development and advance US foreign policy,” Adam Boehler, chief executive officer of the government agency, said in a statement.

The move follows last week’s executive order declaring a “state of emergency” in the US mining industry. The directive, which seeks pushing a local battery metals industry forward, also called for a report evaluating possible measures such as tariffs, quotas, or other trade restrictions targeting China and “other non-market foreign adversaries.”

Washington has expressed concern that China’s control of rare earths supply could be used as a tactic against US companies that depend on those elements.

Breaking China’s holdChina produces roughly two thirds of the world’s lithium-ion batteries and has taken steps to secure critical metals for them, particularly in Africa and Latin America.

The US is trying to fight back, with the Pentagon promising to fund domestic mining of the essential materials, while also investing in projects abroad.

Washington has also created the DFC to provide an alternative to Chinese overseas finance in Asia, Africa and Latin America.

The backing to TechMet marks the first time the US government has invested directly in a metals and mining company, the company’s chief executive, Brian Menell, said.

TechMet was founded in 2017 by South African mining veteran Brian Menell, a former executive at Anglovaal and De Beers.

The company has a tin and tungsten mine in Rwanda, a rare earths mine in Burundi, and a lithium-ion battery project in Canada. It also produces vanadium, a crucial metal for manufacturing nuclear reactors and military aircraft.

The US is not alone in its quest to reduce reliance on foreign producers. In September, the European Union stepped up its efforts to become less dependent on imported raw materials, including rare earths and, for the first time, lithium.

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To: THE ANT who wrote (2059)10/10/2020 3:29:17 AM
From: elmatador
   of 2220
Real estate going up with a vengeance. Two factors at play.
  1. Lowest interest rates ever
  2. Urban exodus Covid effect

1) Before the pandemic (Nov. 2019) real estate market was already going up as
Each percentage point less in the rate can attract two million families to mortgage, calculate developers.

In the third quarter, (2019) the number of residential properties launched grew 23% in the country. Sales rose 15% over the same period in 2018. There were more than 30 thousand units

Last month: The monthly indicator of the Brazilian Association of Real Estate Developers (Abrainc), prepared by the Foundation Institute for Economic Research (Fipe), registered a 58% increase in sales of new housing units in July compared to the same month in 2019. It was the best result monthly index of the Abrainc / Fipe indicator since May 2014.

2) This movement of urban “exodus” is not new only in Brazil. Other countries have seen this happen during the pandemic, such as the United Kingdom, which has undergone changes in the housing market due to the migration of people who decided to leave London to live in cheaper cities with higher quality and lower cost of living.

It is not yet possible to say whether the exodus will happen in a massive way and if the capitals will be emptied after the pandemic, but it is a fact that it was decisive to change
(Machine Translated)

Brazilians did not dispersed from the major urban centers even though Internet connectivity is widespread and companies digitalize, because of a cultural phenomenon. They love personal relationships. talk and listen rather than write and reading.

The pandemic forced changes in that. It is similar to what happened to banking in the 1980's hyper inflation years, Brazilians abandoned banks as Brazil was a pioneer in bank automation due to the hyper inflation. .

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From: kidl10/27/2020 9:13:40 AM
   of 2220
Message 33004915

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To: kidl who wrote (2120)11/3/2020 3:34:11 AM
From: elmatador
   of 2220
The New York Times?

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To: kidl who wrote (2120)11/5/2020 10:51:49 AM
From: elmatador
   of 2220
Hat tip THE ANT

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